Management Papers

Permanent URI for this collectionhttps://researchcommons.waikato.ac.nz/handle/10289/34

This collection houses research from the Waikato Management School.

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The effect of uncertainty on output: Instruments, identification, and the role of investment
(Elsevier, 2025) Ryan, Michael; Holmes, Mark J.
This study investigates the impact of uncertainty shocks on output in New Zealand between 1985Q2 and 2018Q4 using the Internal and External Instrument versions of the Structural Vector Autoregression model. While the existing literature has relied almost exclusively on the External Instrument approach, this method requires the invertibility of the uncertainty shock, whereas the Internal Instrument approach does not. We formally test for, and reject, invertibility in our application, reflecting that uncertainty frequently arises from concerns about future policy or economic fundamentals. As the two instrumental variable models produce quantitatively different impulse responses for output, we empirically illustrate the importance of testing for invertibility and using the results to guide model selection. We also find that the effects of uncertainty shocks on New Zealand's output are larger than previously documented — with investment a key transmission channel — suggesting that counter-cyclical policy may need to respond more aggressively to uncertainty-driven downturns.
Determinants of Fintech diffusion in emerging markets: a service ecosystem perspective
(Emerald, 2025) Griffiths, Paul David Richard; Mukherjee, Abhishek; Sinha, Paresha N
Purpose – This study aims to investigate the diffusion of financial technology (Fintech) in Vietnam by applying a service ecosystem perspective. It reconsiders traditional innovation diffusion approaches by focusing on the interplay of services, institutions and ecosystem dynamics across distinct Fintech service domains. Design/methodology/approach – This study employed a qualitative approach using the Knowledge Café method for data collection. Transcripts were coded and analysed thematically across different diffusion phases. Findings were validated through a half-day workshop with banking professionals. Findings – Government regulation in Vietnam has enhanced trust within the Fintech ecosystem, driving digital transactions and financial inclusion. However, as the regulations are heavily focused on the payment services, an uneven diffusion of innovation across the seven Fintech service domains is evident. Practical implications – Regulation can accelerate Fintech diffusion in early stages, as seen in Vietnam’s payments sector, but may hinder innovation as technologies mature. Policymakers must adapt regulatory frameworks to balance stability with ongoing innovation. Originality/value – This study advances theory by analysing Fintech diffusion by service domain rather than as a unified sector and by extending the innovation diffusion theory to an emerging market context. Applying a service ecosystem lens reveals the multi-level dynamics shaping Fintech adoption, offering a more nuanced understanding across domains.
Big data analytics role in shaping the work of accounting function and accounting professionals
(Emerald, 2025) Mukherjee, Abhishek; Sharma, Umesh; Liu, Junliang
Purpose – This paper aims to examine how big data can be applied in accounting and identifies the competences future accountants at organizational level need to possess to remain competitive. Design/methodology/approach – This study used the association of chartered certified accountants (ACCA’s) framework and the technological, organization and environmental (ST.O.E.TOE) theoretical framework to identify the skills and capabilities urgently needed by accounting professionals at the organizational level in the context of big data analytics. The authors conducted comprehensive content analysis of academic literature issues from professional accounting bodies, and reports of accounting practitioners to gain insights of competencies that accounting professionals at organizational level need to possess to be prominent in the big data era. Findings – The findings show that in the big data era accounting professionals should acquire the seven competences to be competitive. The competencies are (1) skills in data analytic techniques and the use of statistical models; (2) knowledge of the business; (3) skills to control the risk from the emerging technologies; (4) skills and knowledge in accounting profession; (5) skills to understand the insights from big data analytics; (6) skills to test the quality, veracity and integrity of data; and (7) skills to communicate with others. The study also found that these competences do not exist alone. These competences are closely related to each other and complement each other, which means that accounting professionals cannot expect to stand out in the future competition by mastering only one or two of these seven competences. Research limitations/implications – The application of big data analytics is still in its infancy and its effects have yet to be confirmed so that there is no reliable case to collect and analyse. One limitation is the absence of practical case in this paper. The findings will help accounting professionals to understand the future of work. Practical implications – The findings will help accounting professionals to acquire new skills and knowledge in related areas and remain competitive in the post big data era. Social implications – This study highlights skills necessary for accountants to thrive in a big data era, emphasizing the shift from traditional accounting functions to roles that integrate advanced data capabilities and strategic insight. Originality/value – This is one of the few papers that seek to explore the competencies required by accounting professional at organizational level in the big data era using the ACCA’s research of accountant’s professional quotients and ST.O.E.TOE theoretical framework. This paper seeks to contribute to the literature on accounting professionals’ competencies at organizational level in the big data era. Big data analytics in accounting is influencing the evolution of accounting professionals’ competencies and is a key interest in accounting change literature. The nature of accounting work will undergo fundamental changes due to big data. Yet we know little about this due to big data being in its infancy stage in the accounting literature.
Potential impacts on the NZ container shipping network if international emissions were included in 2050 targets
(He Pou a Rangi | Climate Change Commission, 2024) Trent, Nadia M; Floerl, Oli
The purpose of this submission is to highlight the necessity of considering a maritime network view when analysing the potential impacts of including emissions from international shipping in the country's climate targets. The proposal document only briefly considers network impacts. In particular, we illustrate that the choice of emission measurement proposed could result in markedly different future states for Aotearoa New Zealand’s maritime network, with implications for the economy and biosecurity.
From willingness to engage to willingness to pay: A behavioral experiment on green consumer information in a digital product passport
(2025-02) Dorner, Zack; Tucker, Steven; Zhang, Abraham; Huber, Anna
Information represents the “third wave” of environmental policy. Existing evidence shows consumers increase their willingness to pay (WTP) for environmentally friendly products with clear labelling. However, there is a gap in the literature regarding whether consumers have a willingness to engage (WTE) with detailed information, for example, through a Digital Product Passport (DPP). This technological innovation is part of the European Union’s new circular economy action plan. In our theoretical model, a green consumer decides whether to invest in information on how to mitigate their environmental damage, but at a cognitive cost. We test the model in a lab experiment selling an environmentally friendly toothbrush, but information about its environmental credentials is only available through a DPP. We find education on the DPP’s purpose is key to increasing revealed WTE when a DPP is available. Participants with a high stated WTE engage with the DPP regardless; the increase in revealed WTE comes from those with a lower stated WTE. Engagement with the DPP, in the case that it contains positive environmental information, increases WTP. The policy implications of our results are that education about the purpose of the DPP is required in order to increase the likelihood of actual consumer engagement with it, as long as it is user friendly. However, engagement with a DPP may not lead to further shifts in environmental orientation and behavior. Our study also demonstrates novel measures of WTE, and how these can be used to understand pro-environmental consumer behavior in a theoretically informed manner.
Social media and the evolution of vaccine preferences during the COVID-19 pandemic: Discrete choice experiment
(JMIR Publications Inc., 2025) Maris, R; Dorner, Z; Hess, S; Tucker, Steven
Vaccine information and misinformation are spread through social media in ways that may vary by platform. Understanding the role social media plays in shaping vaccine preferences is crucial for policymakers and researchers. Objective This study aims to test whether social media use is associated with changes in vaccine preferences during the COVID-19 pandemic in New Zealand, and whether trust in sources of information has a moderating role. Methods Our data consist of a balanced panel of 257 web-based respondents in New Zealand in August 2020, October-November 2020, and March-April 2021. We use a novel approach with stated choice panel data to study transitions between different vaccine preference groups. We analyze the associations between these transitions and social media use. We classify respondents as resistant (never chose a vaccine), hesitant (chose a vaccine between 1 and 5 times), and provaccine (chose a vaccine 6 out of 6 times) in each wave of data. Results We found a positive or neutral association between social media use and vaccine uptake. Facebook, Twitter (pre-2022), and TikTok users who are provaccine are less likely to become hesitant or resistant. Facebook and Instagram users who are hesitant are more likely to become pro. Some social media platforms may have a more positive association with vaccine uptake preferences for those who do not trust the government. Conclusions The paper contributes to the wider literature, which shows social media can be associated with reinforcing both pro and antivaccination sentiment, and these results depend on where individuals get their information from and their trust in such sources.
The influence of maritime freight cost tail risk on publicly traded industrial and transport companies
(Elsevier BV, 2025) Akyildirim, E; Corbet, Shaen; Ryan, Michael; Mukherjee, Abhishek
This study examines the influence of maritime freight cost tail risk events on stock market prices of industrial and transport-related firms. Our findings reveal a significant asymmetry: extreme negative movements in these indices have a disproportionately large adverse impact on stock returns compared to extreme positive movements. As these indices serve as barometers of global economic health, sharp declines signal contractions in global demand, fuelling investor apprehension. These concerns outweigh the potential benefits of lower input costs for most firms. We also uncover substantial heterogeneity amongst stock responses. Notably, owing to their perceived higher risk, smaller firms and those with ESG controversies are more severely impacted by these negative tail-risk events. Further, we document that strong ESG commitments are sometimes beneficial during negative tail risk events, but not always. These mixed findings suggest that the effects of ESG commitments during tail risk events operate through multiple channels, and these impacts may vary depending on firm characteristics and the nature of the ESG activity.
Global perspectives on open banking: Regulatory impacts and market response
(Elsevier, 2025) Akyildirim, E; Corbet, Shaen; Mukherjee, Abhishek; Ryan, Michael
This study investigates the adoption of open banking across several diverse global jurisdictions, focusing specifically on regulatory and market implications. Employing a comparative analysis, we examine the dual nature of open banking as both a regulatory framework and a technological innovation, exploring how different regulatory approaches shape its implementation and market reception. Results indicate significant variation in market responses to open banking announcements, presenting evidence of the underlying factors driving these disparities, such as the role of regulatory environments, technological infrastructures, and bank size in shaping market reactions.
Food rescue in New Zealand: A sector in transformation
(Waikato Management School, University of Waikato, 2025) Mulder, Megan; Louche, Céline
The COVID-19 pandemic significantly impacted New Zealand’s food rescue sector, exposing vulnerabilities and spurring opportunities. Through 18 qualitative interviews and secondary data, this report explores the post-pandemic changes in the sector. First, the food rescue ecosystem has been significantly reshaped through the emergence of new actors and an increase in actors creating new dynamics in the sector. Second, with the shifts in funding post-pandemic, organisations have been exploring new ways of generating revenue but are also struggling with infrastructural and resource issues. Third, to meet community needs, food rescue organisations have cultivated capacities to innovate new practices. Fourth, the sector is showing clear signs of professionalisation including the standardisation and normalisation of practices, the creation of frameworks and the emergence of clearer boundaries around the field. And fifth, our interviewees are raising questions about the purpose and raison d’être of the sector. Those changes highlight three main challenges for the sector. First, the sector is facing a number of paradoxical tensions: collaborating vs competing, efficiency vs relational focus, standardising vs improvising, food insecurity vs food waste and acting locally vs nationally. Although those tensions are not all entirely new, they have become increasingly salient post-COVID. Another challenge is the need for organisations to adapt to the constant changes and build resilience. And the third challenge requires thinking beyond the sector to address the systemic issues of food waste and food insecurity. Recognising and addressing those challenges is necessary for the food rescue to continue to develop and adapt but also to remain societally relevant.
“Everything, everywhere, all at once”: the role of accounting and reporting in achieving sustainable development goals
(Emerald, 2025) Kaur, A; Argento, D; Sharma, Umesh; Soobaroyen, T
Purpose: The purpose of this paper is to highlight and compare insights from research conducted in the field of accounting and reporting for Sustainable Development Goals (SDGs) in the public, not-for-profit and hybrid sectors. It is also an introduction to the special issue on “Sustainability Accounting and Reporting for Sustainable Development Goals (SDGs): Progress, Challenges, and Future Research Agenda”. Design/methodology/approach: This paper reviews the findings and reflections in the academic literature on developments in the SDG accounting and reporting practices across public, not-for-profit and hybrid sectors globally. Findings: The findings of the review indicate that SDG accounting and reporting practices of public, not-for-profit and hybrid sectors are still in their infancy. Considerable political and organisational barriers hinder the achievement of SDGs. Nonetheless, aligning local and global goals, engaging stakeholders effectively and implementing robust progress monitoring and review systems can facilitate a meaningful engagement with the SDGs. The special issue articles offer decision-makers valuable insights on the factors enabling the adoption and implementation of SDGs. Originality/value: This paper contributes to the ongoing discussions on the role of accounting and reporting processes within public, not-for-profit and hybrid sectors in advancing the achievement of SDGs.
The integration of education for sustainable development into accounting education: stakeholders’ salience perspectives
(Emerald, 2024) Al-Hazaima, H; Low, Mary; Sharma, Umesh
Purpose: This paper applies a stakeholder salience theoretical framework to facilitate the understanding of the roles salient stakeholders can have in the integration of education for sustainable development, one of the important Sustainable Development Goals (SDGs), into Jordan’s university accounting education. Design/methodology/approach: We used stakeholder salience theory to inform our study. This study adopted a qualitative research method. The study used semi-structured interviews to collect qualitative, open-ended data that explored the salient stakeholders’ thoughts, beliefs and feelings about their roles in influencing the integration of education for sustainable development into the Jordanian accounting curriculum. Findings: The results indicate that education for sustainable development in accounting is important; however, most Jordanian salient stakeholders indicate their inability to integrate sustainable education into the accounting curriculum due to their lack of power to do so. The findings show that there is currently an inappropriate distribution of power, legitimacy and urgency amongst the salient stakeholders, who indicate that a progressive education solution is required in the critical area of education for sustainable development in accounting. This research indicates that a significant number of salient stakeholders would like the Jordanian government to provide power, legitimacy and urgency to enable accounting educators to become definite stakeholders as this will enable them to integrate sustainable education into the accounting curriculum. Research limitations/implications: The study is limited to Jordan only. The paper draws attention to the need for an appropriate distribution of power, legitimacy and urgency amongst salient stakeholders in Jordan. Practical implications: This paper provides evidence that the salient stakeholders in this emerging economy want to make changes in their education system to address climate change concerns, an important SDG, through a better education curriculum for sustainable development in Jordanian universities. Social implications: Accounting educators should be given the power to make changes in the accounting curriculum, such as integrating education for sustainable development. Originality/value: There is an inappropriate distribution of power, legitimacy and urgency amongst the Jordanian salient stakeholders and this imbalance hinders the integration of education for sustainable development into the accounting curriculum.
Public value and public sector accountability in New Zealand
(Emerald, 2024-09-30) Sharma, Umesh Prasad; Kaur, Amanpreet
This paper aims to present an overview of the development of the public value accounting approach and its application to public sector accountability in New Zealand. Design/methodology/approach The study uses the public value framework to demonstrate the outcome-related planning and control mechanisms that are put in place in the public sector. The paper draws from archival research using a case study of the Ministry of Pacific Peoples. Findings The public value accounting-based calculative practices are on the rise within the New Zealand public sector. New Zealand’s public sector is oriented towards a public value budget. Research limitations/implications The study is limited through the use of secondary data and the use of content analysis methodology. The research enables policymakers to fund initiatives that enhance the well-being of the community. Public value can be created as a joint effort between citizens and government as evident from the case study. By looking at the totality of the impact of government through public value creation can help to improve policy decisions. Government policymakers need to emphasise on those public value creation that has an enormous positive impact on the citizens. This will also help to improve the relationship between government and citizens through increased trust in the government by citizens. Originality/value The paper contributes to the public value research which has received relatively less attention in the literature. Public value accounting is a research field that is yet to achieve a significant level of attention.
A comprehensive model for assessing university and campus sustainability, accreditation and global ranking
(Inderscience Publishers, 2024-11-22) Permatasari, Paulina; Natasha, Vania; Angelica, Laura; Sharma, Umesh Prasad; Suherman, Uman
This paper aims to create a comprehensive model of a sustainable university by combining the concepts of sustainable universities with various university assessment systems, including national and international university accreditation, professional accreditation, and global university ranking. The model conceptualisations of university sustainability and university assessment systems were taken from different existing models in higher education. These were summarised and conceptualised to create an integrated model of a sustainable university and its assessment criteria. It was found that the goals of both systems corresponded with one another. Thus, the aim of establishing sustainable universities is also in line with already existing university goals, such as achieving excellence in organisational and academic goals. An innovative model combining university sustainability and university assessment systems would be beneficial in simplifying the complex and multidimensional nature of a sustainable university and may portray a more attainable and relatable view of university sustainability overall.
The accounting challenges for indigenous businesses: a Pacific Islands case study
(Emerald Publishing, 2025) Sharma, Umesh Prasad; Davey, Howard
Purpose: This paper aims to examine the accounting challenges faced by indigenous businesses in the wholesale and retail market in Tonga. Design/methodology/approach: The data were collected through semi-structured interviews with 24 participants, from a mix of individuals from the wholesale and retail market in Tonga. This paper uses institutional logics framework to inform the study. Findings: The research findings suggest an inability of indigenous businesses to adapt to significant changes in the market and overcome the economic and social challenges faced in the business environment involving accounting values. A lack of business skills and accounting knowledge, restrictive traditions and religious obligations and a poor business investment climate are key factors behind the inability of the indigenous Tongan businesses to succeed. Research limitations/implications: The paper is limited to a study on Tonga only. The paper suggests better accountability from government sector on their effort to encourage inclusion of indigenous businesses. Practical implications: The paper suggests better accountability from government sector on their effort to encourage inclusion of indigenous businesses. As a way forward, participants suggest that an inclusive approach for the government, businesses and stakeholders in policy formulation and consultation would create a better business environment that would foster the development and growth of the wholesale and retail business sector in Tonga. There is a dearth of cultural studies in accounting in countries within the developing world, particularly in the Oceania region. Social implications: There are many accounting challenges faced by the indigenous Tongan business people in the market, which indicate specific areas where the attention of the policymakers should be directed. A better accountability from the government is needed on their efforts to encourage inclusion of indigenous businesses. Originality/value: This paper extends the literature by considering inclusivity challenges for ethnically marginalised collectives of individuals in small business. The research findings suggest a gap in knowledge in the current business environment with respect to the Western accounting practices in the indigenous society.
Institutions
(Edward Elgar, 2024-06-20) Sharma, Umesh Prasad; Chand, P
This section of the Encyclopedia outlines the necessary "institutions" linked to international accounting practices, including the International Accounting Standards Board (IASB), International Federation of Accountants (IFAC), International Monetary Fund (IMF), International Organization of Securities Commissions (IOSCO), International Sustainability Standards Board (ISSB), World Trade Organization (WTO), and World’s Largest Public Accounting Firms (Big 4).
Decision usefulness of SME financial statements in Sri Lanka
(Wiley, 2024-12-13) Wijekoon, Nisansala; Sharma, Umesh Prasad; Samkin, Grant
This paper examines the users of Sri Lankan small and medium-sized entities' (SMEs) financial statements, and their information needs. Semi-structured interviews found the main recipients of SME financial information are banks, the Inland Revenue Department and other government institutions. However, the users' concerns, such as manipulation of financial results, tax orientation, insufficient detail, and out-of-date information, hinder the decision usefulness of SME financial statements. Given this context, the widespread problems of unreliability and non-compliance with accounting principles and standards present a substantial hurdle in evaluating the decision usefulness of SMEs' financial statements in Sri Lanka. The Chartered Accountants of Sri Lanka, regulatory bodies and government authorities need to pay greater attention to SMEs' financial reporting and take steps to make it credible and relevant to users' needs.
Perceptions of warmth and competence conveyed by hard sell and soft sell voices: A cross-cultural study
(Taylor and Francis Group, 2025) Desmarais, Fabrice; Vignolles, Alexandra; Mukherjee, Abhishek
We assess the reactions of Generation Z consumers to hard and soft sell vocal styles in two countries (France and New Zealand) to understand whether the association of warmth and competence personality traits differs across countries. Results reveal commonalities and differences that advertisers should take into consideration when designing advertising vocal strategies. In both countries, the soft sell vocal style conveyed significantly more warmth than the hard sell style. Our study also reveals differences between countries with French participants having a clear preference for soft sell voices, which they rated very high in both warmth and competence, whereas participants from New Zealand found the hard sell voices significantly more competent than French participants did.
The influence of maritime freight cost tail risk on publicly traded transport companies
(2025) Akyildirim, E; Corbet, S; Ryan, Michael; Mukherjee, Abhishek
This study examines the influence of maritime freight cost tail risk events on transportation-related stock market prices. Our findings reveal a significant asymmetry: extreme negative movements in these indices have a disproportionately large adverse impact on stock returns compared to extreme positive movements. As these indices serve as barometers of global economic health, sharp declines signal contractions in global demand, fuelling investor apprehension. These concerns outweigh the potential benefits of lower input costs for most firms. We also uncover substantial heterogeneity amongst stock responses. Notably, owing to their perceived higher risk, smaller firms and those with ESG controversies are more severely impacted by these negative tail-risk events. Further, we also find that strong ESG commitments are sometimes beneficial during negative tail risk events, but not always. We attribute the observed detrimental effects of strong ESG commitments to heightened investor concern about the additional operational costs and regulatory compliance required to meet these commitments during challenging market conditions. Our results suggest companies take proactive steps to address investor concerns about the cost of ESG commitments. By doing so, companies can ensure that their pursuit of sustainability and responsibility does not conflict with their financial objectives and market resilience.
Māori data sovereignty and privacy
(Te Ngira Institute for Population Research, 2023) Kukutai, Tahu; Cassim, Shemana; Clark, Vanessa; Jones, Nicholas; Mika, Jason; Morar, Rhianna; Muru-Lanning, Marama; Pouwhare, Robert; Teague, Vanessa; Tuffery Huria, Lynell; Watts, David; Sterling, Rogena
Privacy is a fundamental human right. One of its most important aspects is information privacy – providing individuals with control over the way in which their personal data is collected, used, disclosed and otherwise handled. Existing information privacy regulation neither recognises nor protects the collective privacy rights of Indigenous peoples. This paper explores Indigenous data privacy, and the challenges and opportunities, in the context of Aotearoa. It has two aims: to identify gaps in existing data privacy approaches with regards to Indigenous data, and to provide a foundation for progressing alternative privacy paradigms. We argue that while personal data protection is necessary, it is insufficient to meet the needs of Māori and Aotearoa more broadly. In so doing, we draw on three areas of research: Indigenous and Māori data sovereignty; data and information privacy, including collective privacy; and Māori and Indigenous privacy perspectives. We examine key features of the Aotearoa privacy context – including the Privacy Act 2020 (NZ) – and consider the implications of te Tiriti o Waitangi and tikanga Māori for alternative privacy approaches. Future options, including legal and extra-legal measures, are proposed.
Financing green innovation startups: a systematic literature review on early-stage SME funding
(Taylor & Francis, 2024) Mukherjee, Abhishek; Owen, Robyn; Scott, Jonathan M.; Lyon, Fergus
This paper investigates the critical issue of financing early-stage green startups, examining the types of investors and finance models available, the challenges these startups face, and how the green finance ecosystem can better support early-stage investment. Utilizing a systematic literature review (SLR) methodology, we provide a comprehensive analysis of the current landscape. Our findings reveal a significant paucity of data and a bias towards well-established North American and European ecosystems, while highlighting an emerging diversity in private finance sources post-Global financial crisis (GFC), including grants, equity, and crowdfunding. Despite this, there remains a heavy reliance on public funding and a lack of evidence regarding its impact. The inherent characteristics of cleantech–high capital expenditure, long investment horizons, and disruptive nature–necessitate innovative public financing instruments and policies to reduce risk and attract private investment. Our theoretical contribution highlights the necessity for interdisciplinary research and policy collaboration to develop a holistic entrepreneurial finance (entfin) ecosystem. This approach should integrate quantitative economic and qualitative behavioural finance research to address information asymmetries and improve the green economy policy mix. Such a framework will support public-private co-financing, enhance stakeholder engagement, and provide evidence for policy decisions, facilitating more rapid commercialization of cleantech innovations for environmental sustainability.

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